The collection of resources by credit unions has been affected in the context of the current health emergency. According to data from the National Banking and Securities Commission (CNBV), as of last May the balance of loans received by these entities fell 11% compared to the same period in 2020.
The regulatory and supervisory body of the financial system issued the report of the sector, made up of 82 entities, as of May where it indicated that the balance of bank loans, of partners and other organizations stood at 46.591 million pesos, a real annual decrease of 11 percent.
Credit unions act as non-bank financial intermediaries, with the intention of facilitating their partners access to credit and investment under more favorable conditions. These entities, according to the regulator, attract resources exclusively from their partners, as well as from commercial banks, development funds and development banks.
In this context, bank and partner loans were the ones that showed the greatest decrease, since the former registered a balance as of last May of 11.596 million pesos, that is, a real annual fall of 17.6%; while the latter showed a balance of 32,597 million pesos, which meant a decrease of 11.5 percent.
Contrary to these two indicators, loans from other organizations presented a balance of 2,401 million pesos, that is, an annual growth of 66.2%.
“At the end of May 2021, the balance of total liabilities was 48,332 million pesos (millions of pesos), with a real annual reduction of 10.2 percent. Bank loans, from partners and other organizations, represented 96.4% of total liabilities ”, stated the CNBV.
Credit is contracted
In terms of financing, the balance of the sector’s loan portfolio was 45,214 million pesos, as of May, a decrease of 8.1% compared to the same period in 2020.
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